Xi Medical Closes $45 Million Series B

<p><strong>UNION CITY<&sol;strong> &&num;8212&semi; XII Medical&comma; Inc&period;&comma; a clinical-stage medical technology company developing innovative therapies for obstructive sleep apnea&comma; has closed a &dollar;45 million Series B equity financing&period; The financing was led by Omega Funds and joined by new investor Intuitive Ventures&period; Existing investors also participated&comma; including founding investor Cleveland Clinic&comma; Ajax Health&comma; Longview Ventures &lpar;an affiliate of Broadview Ventures&rpar;&comma; Aperture Venture Partners&comma; JobsOhio Growth Capital Fund and an undisclosed strategic investor&period; Funds will be utilized to further product and clinical development&period; XII Medical has developed a state-of-the-art&comma; patient-centric neuromodulation therapy designed to enhance quality of life for the millions of people suffering from obstructive sleep apnea&period;<&sol;p>&NewLine;<p>Obstructive sleep apnea &lpar;OSA&rpar; is a disorder in which the muscles in the throat temporarily relax&comma; causing blockage of the airway during sleep&period; It is estimated that 425 million people&comma; globally&comma; have moderate to severe OSA requiring treatment&period; Current treatment options are overly burdensome to patients and physicians&comma; leaving a significant number of patients untreated&comma; undertreated and at risk of severe health complications&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Despite advancements in obstructive sleep apnea therapies&comma; challenges remain that prevent millions of people from receiving adequate treatment&comma;&&num;8221&semi; commented Saoussen Ben Halima&comma; PhD&comma; Sr&period; Associate&comma; Omega Funds&period; &&num;8220&semi;We are thrilled to lead this round&period; We believe XII Medical developed a ground-breaking platform technology to simplify treatment&comma; expand access and improve outcomes for patients&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;XII Medical&&num;8217&semi;s transformative technology is poised to help the hundreds of millions of those suffering from OSA&comma;&&num;8221&semi; said Murielle Thinard McLane&comma; President and Managing Partner of Intuitive Ventures&period; &&num;8220&semi;Their neuromodulation therapy addresses patient compliance issues while also offering a high quality&comma; minimally invasive solution with a streamlined surgical approach and smaller&comma; flexible and easier to implant technology than current solutions&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;XII Medical is committed to improving the lives of patients with obstructive sleep apnea&period; The significant support from our investors will allow us to expand our exceptional team and collaborate with best-in-class partners to advance our technology and clinical research&comma;&&num;8221&semi; commented Garrett Schwab&comma; President and CEO of XII Medical&period;<&sol;p>&NewLine;<p>&&num;8220&semi;XII Medical has made significant progress and we are pleased to welcome these outstanding new investors to our syndicate&comma;&&num;8221&semi; commented Anthony Natale&comma; M&period;D&period;&comma; Executive Chairman of XII Medical&period; &&num;8220&semi;I share their excitement in the pioneering work the XII Medical team is doing to make best-in-class OSA therapy accessible to all who require it&period;&&num;8221&semi;<&sol;p>&NewLine;